Date:17/06/2005 URL: http://www.thehindu.com/2005/06/17/stories/2005061706181901.htm

Business - Briefly

Paramount Airways may start operations in August

BANGALORE: Paramount Airways will collaborate with Brazilian aircraft manufacturer Embraer to operate five Embraer 170/175 jets for its new airline in India, said the Managing Director of Paramount Airways M. Thiagarajan.

The airline is likely to launch operations in August. The deal for the five aircraft is worth more than $138 million at list price. The airways was promoted by the Paramount group, a leading textile manufacturer based in Madurai, South India.